If the Price Level Rises by 4 Percent and Workers

question 68

Multiple Choice

If the price level rises by 4 percent and workers' money wage rates increase by 2 percent, then the

• A) quantity of labor supplied decreases.
• B) quantity of labor supplied increases.
• C) quantity of labor supplied does not change because there is no change in the real wage rate.
• D) the supply curve of labor shifts rightward.

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Definitions:

Racism

Prejudice, discrimination, or antagonism directed against individuals of different races based on the belief that one's own race is superior.

Abolitionists

Activists who campaigned for the immediate end of slavery and the emancipation of slaves, particularly prominent in the 19th century.

Morally Wrong

Actions or behaviors that are considered unethical or evil according to societal, cultural, or personal standards.

Economic Threat

A potential risk that could negatively impact the economic stability or growth of a country or region.